Alfa Romeo Montreal sells for record-breaking $176,000

Despite its concept-car looks, despite its relative rarity here in the United States, despite its Italian exoticness, the Alfa Romeo Montreal had always been considered a budget GT car, an affordable alternative to, say, a Ferrari 308. Those days may be over, however, now that a 1971 Alfa Romeo Montreal, described as one of the finest such cars in existence, sold for $176,000, setting an auction record for the model.

Sold new in Italy, the Montreal in question, chassis number AR1425803, came to the United States in 1985 and changed hands a few times over the next decade before Bill Greenslade of the Arizona Alfa Romeo Owners Club bought it. In the decade and a half that Greenslade owned it, he repainted it – in the process swapping its original Alfa Romeo red for a Ferrari red – and treated it to an extensive mechanical refurbishment that included a new water pump bearing for the 200hp 2,593-cc dual overhead-camshaft V-8 as well as a rebuilt Spica mechanical fuel-injection system and an upgraded steering box. According to Gooding’s description of the Montreal, the car took AROC first-place awards multiple times in the 1990s and 2000s, took a second in class at the 2013 Santa Fe Concorso, and has participated in multiple rallies, including the Copperstate 1000. It even earned a feature article in the January/February 2002 issue (#187) of Special Interest Autos.

Even so, six figures for a Montreal is rare territory. (Michael Lamm probably wouldn’t spend six dollars on one.) In his buyer’s guide on the cars in Hemmings Sports & Exotic Car #87, November 2012, Editor David LaChance noted that high-end examples typically sold for around $45,000. This particular Montreal popped up for sale over the last couple of years with a $49,000 asking price, and Gooding itself even estimated that the car would sell for $80,000 to $110,000, likely based on the estimate-busting $99,000 sale of a 1973 Montreal at its Monterey auction last year. In the end, it hammered for $160,000; 10 percent buyer’s fees elevated it to the record-setting $176,000 final sale price.

MOPAR MANsays:

January 23, 2014 9:59 am

Art Harveysays:

March 9, 2014 7:51 pm

LOL – .. not that the Montreal is a terrible car, but I agree – at that price you could get 3-4-5-6 other classic cars, even exotics. Or say you really like Montreal’s – then you buy one at market rate for $60-70k or whatever, and still have over 100 Large in your pocket on another. This one is likely to go into a vault never to enjoy the open road again.

Adisays:

April 11, 2014 12:56 pm

I put it to you that its cheap! Where can you buy a car designed by Gandini for under 300k (Miuria, iso griso) With an engine that one the world championship In the Alfa Tipo 33. and a raceing zf dog legged gear box. and now it is estimated that Only a couple 100 left in the world. Plus to have to fix a 50k one will cost you a couple of 100k now.

MOPAR MANsays:

January 23, 2014 12:27 pm

Hemipilesays:

January 23, 2014 6:19 pm

Scotty Gsays:

January 23, 2014 1:28 pm

That Triumph TR3 was a ridiculous bargain! Less than $30,000 with a pre-auction estimate of twice that. Someone absolutely stole that beauty. There are always cooler, more interesting cars at the bottom of the auction list, in my opinion.

Jim Sartorsays:

January 23, 2014 10:08 am

BigRedRivisays:

January 23, 2014 10:13 am

Interesting…although Hemmings might have had a story on this vehicle at one time…it might be nice if you would have included more history of the model itself. Kind of Pantera looking…where did it get its design and how kuch did they originally sell for and why weren’t many of them imported. If Michael Lamm didn’t like them, what were their quirks or drawbacks. Thanks

Dalesays:

January 23, 2014 12:41 pm

Daniel,
I think telling him to look at Michael Lamm’s article is a real disservice. Lamm bought a complex car with a 4cam race car derived engine for a song that had obviously not been maintained properly and then was surprised that he didn’t have a Toyota Camry ownership experience.

Best place to learn about the car is Bruce Taylor’s Montreal website. http://www.alfamontreal.info/
Taylor’s website talks about the good, the bad and the ugly about the car. It’s up to the potential owner to determine if the car is right for them.

Johnnysays:

January 23, 2014 10:49 am

Octavioussays:

January 23, 2014 11:08 am

This lovely Alfa is finally getting some respect. Yes, it could be troublesome and parts scarce, but compares favorably with contemporary Lambos, Fazaz, deTamasos. 176 grand is steep…NOW. We will see who has the last laugh.

Davidsays:

January 23, 2014 11:12 am

Shieldssays:

January 23, 2014 11:20 am

Drove one of these in Germany back in the mid ’70’s. It was a pig, wallowing around corners, parade speed acceleration and NEVER took it out in a rain storm as it leaked everywhere and it was too hard to drive and hold an umbrella at the same time.

LesB63says:

January 23, 2014 11:54 am

Dalesays:

January 23, 2014 12:22 pm

Are you talking about the misalignment of the parking light to the bumper or the trim on the eyebrow? The first is an issue the second not so much as the eyelid parks it self in a little different position each time it “closes” over the lights.

Ronsays:

January 23, 2014 11:48 am

MOPAR MANsays:

January 23, 2014 12:29 pm

Andrewsays:

January 23, 2014 11:54 am

Daniel, I bought one for $3700. years ago and i still own it. It’s wonderful and cranky, as all Italian cars are (bring your sense of humor) and I still have it. This is absurd. Once again, stay away from auctions and do your own work when purchasing.

Dalesays:

January 23, 2014 12:18 pm

Interesting result for a nice car. History of the car is very similar to mine – same colour too. Result may or may not be duplicated. However the $90k result Azf auctions last year has been duplicated at least twice in Europe during the last year. Remember when you are looking at the prices of “bargain” exotics there are a lot of cars out there that haven’t had the $ in maintainece or restoration costs that even bargain exotics require. It’s a much repeated story that exotic cars that become inexpensive to purchase don’t receive the necessary care because it costs too much. But there are a few cars out there that have been restored properly and maintained correctly. They are the ones bringing results you see recently.
As far as comments about Montreal being a “pig” to drive your experience would probably be much different with a properly restored and set up car.

Shieldssays:

January 23, 2014 12:32 pm

Dale –

Your comments were spot on for the most part. However, the car I drove was practically new and purported in fine running condition – owned by the company CEO, who was a perfectionist. As a former race car driver both in Europe and later USA and at that time was racing an Alfa GTV on weekends, I have perhaps a different expectation of performance than the average driver on public roads. The handling, cornering, brakes, balance were fundamentally off and the power/acceleration was certainly below expectations relative to Alfa’s touts. Perhaps the car I drove for several months required a full restoration, albeit it was less than 24 months new from the factory.

Dalesays:

January 24, 2014 3:40 pm

Have to agree with you on the handling from the factory compared to a much lighter GTV. Car is more a GT car in the tradition of a Jaguar XJS, Citroen SM or Jensen Interceptor. To be better on the twistees it needs a handling kit – springs and sway bars to enable it to get the back end to rotate and turn in correctly. Best one I’ve seen is from Harvey Bailey in GB.. As far as quickness. A little faster than a 2 litre GTV but with much nicer sounds.

Paladinsays:

January 23, 2014 12:21 pm

R J Msays:

January 23, 2014 12:36 pm

The Montreal was originally designed to be a mid engine ( note vents behind doors) , but the rush to have it ready for ta debut at the Olympics in Canada resulted in the V8 front engine which is essentially two Alfa 4 cylinders married…very smooth power and five speed in this GT as a result!

Montymansays:

January 23, 2014 5:39 pm

That the Montreal was designed as a mid-engined car is a stubborn myth. It wasn’t. The prototype shown at Expo ’67 in Montreal, Canada (not the Olympics) had the engine up front, just like the production version. Gandini – Bertone’s Montreal designer – says so hmself, and I think we can trust that particular source.

The other “fact”, that the V8 is two straight-4s mated together is not true either. The 2593cc V8 was derived by Alfa engineers Giuseppe Busso and Orazio Satta from Autodelta’s 1995cc V8 engine in the Alfa 33 Stradale. It bears little technical resemblance to the 33 engine though, but there’s some semblance of truth in the “race bred” slogan.

I spent years tinkering with my Montreal and had everything in pieces. I know it inside out.

Gary N. Goldsteinsays:

January 23, 2014 12:45 pm

The VERY 1st Alfa Romeo I EVER rode in was a black 1973 Montreal, back in 1974.At that time, I was told, there were only 4 of them in the United States.My friend’s uncle’s black example, Dean Martin’s son had one, and two other “cats” had one.
I think all four got a little “letter” in the mail from the EPA branch of the United States Government.

January 23, 2014 1:42 pm

Starvin' Marvinsays:

January 23, 2014 2:50 pm

Ray Costasays:

January 23, 2014 2:56 pm

Looking at the bottom feeders (?), I’m glad that the MGA’s, the MG TF and TR3 went for decent, realistic prices. That means you can now afford to restore one and get most of your money back. These are relatively common cars, a lot of fun per dollar, and easy to get parts for. Perhaps not the same experience as the Alfa Montreal, but a terrific experience nonetheless.

Don Petersonsays:

January 23, 2014 3:56 pm

I bought a Monty about a year ago for perhaps 5k above that day’s perceived “market price”. I have long felt that any low-production Italian sports car will enjoy a moment in time when the more-valuable rarities ahead of it in line have jumped out of reach of mere-mortal fanciers and collectors. A LOT of the supposed super-cars in that era can now be outperformed by a late model Mazda, but the rarity and styling tend to produce more buyers than sellers over time. Thus, the price will go up.

An earlier poster’s comments on the piggish handling and braking are correct. Easily fixable for small money. Mine is now scary-fast and certain in corners, and slams to a stop with no problems if needed.

I suspect this price will be the high water mark for a few years, but then there will be a scattering of sales at above it, indicating that a few more collectors have decided it’s time to get theirs.

olddavidsays:

January 23, 2014 4:59 pm

They may be out-performed by modern beige-mobiles, but the sound and feel are unmistakable. Of course the time wrenching will eliminate 80% of potential buyers, but someone at this auction felt otherwise. Do not castigate someone for possibly over-bidding an autombile. In his mind, it was eminently reasonable, and I hope he drove it home. A rising tide floats all boats.

Howiesays:

January 23, 2014 6:33 pm

I saw one on the street not to long ago, it looked very cool, but not $176k cool. And yes I did hear they are not quick or fast, and a handful to drive. Looks nice in red. For anybody that has never seen one, they are very small.

Dan Jedlickasays:

January 23, 2014 7:25 pm

The Montreal is truly exotic and has a great history. I’d love to have one. I saw one being nicely restored a year ago in the Chicago area.The 1955 MF TF 1500 is the best T-Class MG ever. (Avoid the 1954 TF because it’s too slow.) My first car was a 1952 MG TD because I couldn’t find or afford a TF 1500. The TD also was slow, but what the hell, I was in high school and the TD looked great and was fun to drive. After college, in 1967, I bought a 1954-1955 Ferrari Europa from the late top sports car racer Bob Grossman’s dealership in West Nyack, N.Y., while working for a newspaper in Harrisburg, Pa. I traded in a new 1967 Mustang fastback and paid a few thousand for the Europa. A year later, I moved to congested Chicago and had to sell the Europa, because Chicago lacked the Harrisburg area’s then-wide-open roads. After the Ferrari, I bought, for little money, several decent-condition MGAs (including a coupe model), but they weren’t as much fun as my TD.

Keith Ssays:

January 23, 2014 8:27 pm

Michael Waterssays:

January 24, 2014 12:18 pm

Mostly agreed, Keith. For a 1971 model year car, this Alfa Romeo is strikingly beautiful with futuristic styling. Looks well kept / well restored to me. Regardless how much the new owner paid, let’s all hope they will be happy with it and keep it in great condition.

Shieldssays:

January 26, 2014 4:49 pm

Actually, the styling is similar to a Mangusta – the predecessor to the Pantera which made it’s debut in ’71, I believe. The Mangusta/Pantera was larger overall and boasted a 351Cleveland Ford mid engine with ZF transaxle. Considerably less $$$ (restored around 1/5th of what the Montreal sold for) but has it’s share of issues as well. Overheating, bad understeer, poor brakes and a cockpit that tests a midget’s abilities to contort. Had one built out to 480 bhp and ran like a scalded dog in a str8 line; no cornering and front end off the ground at 165mph.

Marksays:

January 24, 2014 6:26 am

I live here in Montreal, and saw the original Montreal on display in the Italian Pavillion during Expo 67. I was 11 years old at the time. Pictures of this car were splattered all over the newspapers and billboard advertising for Alfa-Romeo

Francescosays:

January 26, 2014 8:49 am

I’ve read some comments about how this car is quick or not. Actually, this car is quicker than a Dino 246 which is worth, nowadays, at least $250K, but you’d be lucky to find a very good one at that price.
This is not a sports car but a GT, a kind of scaled-down Maserati Ghibli.
Find a good one and drive it: http://youtu.be/JnLrUrtghVQ

Brian Leclercsays:

January 26, 2014 9:59 pm

Karl Robertsonsays:

January 29, 2014 12:42 pm

As an owner of an Alfa Romeo Montreal I am pleased to see the car finally get the recognition it deserves. Period! The price paid is what someone thought it is worth. Like any classic car out there, who can tell me that a a 1960 Ferrari 250 SWB Berlinetta is worth $8,140,000? or a 1967 Ferrari 275 GTB/4 S N.A.R.T Spider @27,500,000 ? Do any of these cars have more precious metal in them or are they just more rare? Values will go up based on their design, the scarcity, and history of the marque. In the case of Alfa Romeo, they have more history than Ferrari, and most the other Italian manufacturer’s. Good to see….

Sal Pugliesesays:

July 7, 2016 11:06 am

These cars were $20-25K cars up until 2013 or so when collectors saw them as a very exotic car ( never imported into the US added to the mystique) with their sophisticated V-8 and unusual styling… All other Italian brands were skyrocketing so these looked like a bargain….prices doubled, then tripled into 2015…. Lately, they have softened along with the rest of the Italian price explosion, leaving buyers who paid $100K plus a probable long wait on their return on investment !!!